On Tuesday, GameStop CEO Ryan Cohen confirmed that he received a letter from Strive Asset Management CEO Matt Cole.
According to a December SEC filing, the gaming company had about $4.6 billion in cash at the end of the third quarter of 2024.
Mr. Cole sent a letter to Mr. Cohen on February 24, stating that GameStop has a unique opportunity to transform itself by becoming the gaming industry’s leading #bitcoin treasury company.
Mr. Cole worked with X
, writing that we believe this shift can transform $GME from a ‘meme stock’ to a gaming industry leader and create long-term value for our shareholders, including our customers who own gaming stocks through our ETFs.
He claims that bitcoin will become the new barrier rate for capital allocation, suggesting that bitcoin can act as an inflation hedge while cash provides negative real returns.
This proposal will allow GameStop to focus solely on bitcoin and avoid other #cryptocurrency assets, and take advantage of capital gains.
Strive Asset Management, co-founded by Vivek Ramaswamy, recently launched a new investment fund, Strive Asset Management, which offers investors the opportunity to invest in bitcoin primarily through convertible securities linked to MicroStrategy assets.
#ETF invests primarily in bitcoin bonds and derivatives such as swaps and options, focusing on direct and derivative positions in bitcoin-related securities. The focus is on positions and derivatives. He will also hold cash in U. S. Treasuries and may invest in other bitcoin-oriented instruments.
The proposal follows a recent CNBC report that GameStop is considering adding bitcoin and other #digital assets to its investment portfolio.
We understand that GameStop is looking for ways to capitalize on this opportunity and believe that accomplishing this task is essential for long-term success.
GameStop has previously partnered with the company and has been researching digital assets.
Read us at: Compass Investments
#InvestSmart
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
